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5 Reasons Why Bitcoin Is Not A Bubble. NASDAQ Insights

Justin B. by Justin B.
November 24, 2018
in Crypto news, Editor's Choice, WISDOM
Reading Time: 5min read
Rate this post

Why (not) a bubble?

Bitcoin, like many other altcoin prices, is so dynamic that often it is called a bubble. During the writing of the article, BTCUSD grew by 770% a year.

This is quite normal, as capital markets have survived a number of price bubbles, starting with Tulipmania and ending with US stock prices in 2007.

But here is the difference. I myself mentioned more than once that bitcoin price rises do not fit the definition of a bubble: the bubble happens when the price does not match the value. Bitcoin values cannot be determined today.

The author of the NASDAQ says that the cryptocurrency fundamentals are completely different from the classes of assets that previously caused bubbles.

Reasons

1. Bitcoin is increasingly recognized as a legal billing tool.

Bitcoin finds it hard to ‘legalize’ it. The big obstacle is the principle of decentralization and the connection with the so-called ‘dark web’.

But already in 2017, bitcoin has been recognized as a legal payment instrument in Japan in April. What encouraged entrepreneurs to accept payments for bitcoins.

Citizens of the Philippines are widely using bitcoin money transfer – due to cheapness. 2017 In February, the Central Bank of the Philippines announced that bitcoin is a legal money transaction method.

In Australia, bitcoin can quickly become a legal payment method as well. The NASDAQ says it may be in Russia, but there is very controversial information coming from that country.

2. Bitcoin is increasingly accepted by entrepreneurs.

A few years ago bitcoin was accepted by only the most daring entrepreneurs in their stores. Normally, this is also the biggest enthusiasts of the cryptocurrency and blockchain itself.

Now, almost all biggest e-shops accept BTC. Not to mention such global giants as Microsoft, Rakuten, and Overstock.com.

Bitcoin’s popularity and price growth are supported by the media. It’s a crackdown, but it brutally contributes to the recognition of BTC.

Small transaction fees, completely unattended billing fraud (theoretically), can reach new customers in non-bank regions.

It is believed that the more BTC will be used in the economy as a billing tool, the more stable the BTC rate will be. And this is a very important factor needed for a cryptanalysis to become a legal currency.

NASDAQ is a global electronic marketplace for buying and selling securities, as well as the benchmark index for U.S. technology stocks.

3. Bitcoin has grown to become a Safe Haven in fragile economies.

For example, demand for BTC in Venezuela, Bolivia, and Zimbabwe is strongly correlated with the depreciation of local currencies and the recession of economists.

BTC is used as an alternative to worthless currencies and an instrument to protect its capital if it is still left. And businessmen are more likely to accept billing with bitcoins.

4. Bitcoin only now gains real popularity.

Just a few years ago, nobody knew about BTC (yes, readers of this page already knew). Today, almost everyone knows, many know that BTC is more expensive than golden ounces several times.

It’s ‘mainstream’, a new, lucrative fashion for ‘kriptomada’. Even the speculators were interested. Institutional investors not only set up funds (awaiting regulation) but also starts their ‘mining farms’.

5. The supply of Bitcoin is limited.

BTC price growth is linked to the growing demand for limited supply. The last 21,000,000th BTC will be dug up in over 100 years. And every new BTC is getting harder and harder to dig up.

The debate on the BTC bubble will not stop until it blows up or until the market will be self-regulating, with the help of the “invisible hand”.

Despite all positive things being told about BTC, always remember, that there’s one weak side of it – it is the state regulation.

Sources AIPT / NASDAQ

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Tags: BitcoinBTCBubblecryptocurrencyMarketMicrosoftNASDAQPaymentsPopularRegulation

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  • Home
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  • Crypto
    • Tamadoge
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  • Autotrading
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    • Today Profit
    • Quantum Code
    • Bitcode Prime
    • Bitprime Gold
    • Bitcoin Motion
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    • Bitcoin Future
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